Barry Diller's IAC/Interactive Corp is ending the print editions of Entertainment Weekly, InStyle and four other titles acquired from Meredith Corp. last year, turning them into digital-only properties.
The New York-based digital media company told employees that EW, InStyle, EatingWell, Health, Parents and People en Español will be available only online starting in April.
"We have said from the beginning, buying Meredith was about buying brands, not magazines or websites,"
Dotdash Meredith CEO Neil Vogel wrote in a memo to employees obtained by the Los Angeles Times: "It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for a few important brands, print is no longer serving the brand's core purpose."
The move, first reported by the Wall Street Journal, reflects the declining circulation and revenue for print media as audiences continue to turn to digital devices for their content. The consumer shift to digital accelerated during the COVID-19 pandemic.
The shutdown comes only months after IAC acquired the titles from Meredith for $1.8 billion in October. The deal closed in December.
Vogel said the company always intended to unlock the digital potential of the titles, adding: "we are going to move to a digital-only future for these brands, which will help us to unlock their full potential."
Dotdash Meredith will continue to publish print editions of 19 other titles, including People, Better Homes & Gardens and Southern Living.
